Why Twilio Shares Are Breaking Out
Twilio released better-than-expected quarterly results before the markets opened on Wednesday, and its share price soared.
Twilio Inc. (NYSE: TWLO) released its most recent quarterly results before the markets opened on Wednesday. The company said that it had a net loss of $0.04 per share on $129.1 million in revenue. That compares with consensus estimates that called for a net loss of $0.07 per share on revenue of $116.55 million. In the first quarter of last year, it posted a net loss of $0.04 per share and $87.37 million in revenue.
During the latest quarter, the company recorded 53,985 active customer accounts, compared to 40,696 last year.
In the same time, the dollar-based net expansion rate was 132%, compared to 141% in the first quarter of last year.
The company unveiled Twilio Flex this quarter, the first cloud contact center application platform that’s programmable at every layer of the stack, giving businesses complete control of their contact center experience.
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Looking ahead to the second quarter, Twilio expects to see a net loss in the range of $0.06 to $0.05 per share on $129.0 million to $131.0 million. The consensus estimates call for a net loss of $0.06 per share on $122.82 million in revenue for the quarter.
Jeff Lawson, Twilio’s co-founder and CEO, commented:
We are honored that a growing list of companies around the world are placing their trust in Twilio. Our first quarter results exhibited broad-based strength across multiple areas of our business, especially with continued expansion with existing customers. Our continued devotion to innovation was highlighted by the launch of Twilio Flex – the first fully programmable cloud contact center application platform.
Shares of Twilio were last seen up about 14.5% at $50.78 on Wednesday, with a consensus analyst price target of $43.00 and a 52-week range of $22.90 to $52.30.
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Chris Lange is a financial and geopolitical writer with more than a decade of experience covering a myriad of topics. He has published thousands of articles for 24/7 Wall St., with past coverage focused heavily on stocks, IPOs, healthcare, defense, global affairs, and technology.
His work has been quoted, or referenced by a number of outlets including Business Insider, USA Today, Yahoo Finance, MSN, The Motley Fool, and many other publications. A graduate of Southwestern University, he studied business with a focus on investments and has previous experience in banking and startups.
When not reading or writing the news, he is following his passion for Lacrosse, playing chess, or building solar projects with his dad.
